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By Michael Yardney
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This week’s Australian Property Market Update – Latest Data, State by State July 15th 2025

key takeaways

Key takeaways

The RBA's decision to keep interest rates unchanged is unlikely to impact the property market.

In fact, auction clearance rates were very strong this weekend, showing the depth of buyer demand.

The market is expecting further interest rate falls, considering Australia’s economic growth has slowed, with consumer spending, business investment and building approvals all weakening.

The two interest rate drops we enjoy in February and May have already lifted confidence in the housing market, with auction clearance rates strengthening and national dwelling values rising month after month.

With interest rates forecast to fall another two or three times by early 2026 and housing supply still critically low, there is little doubt that house prices will continue to rise.

This week, Cotality also reports that:

*Sydney property prices increased 0.2% over the last week, increased 0.6% over the last month and are 1.3% higher than they were 12 months ago.

*Melbourne property prices increased 0.1% over the last week, increased 0.4% over the last month, and are -0.2% lower compared to 12 months ago.

*Brisbane property prices increased 0.1% over the last week, increased 0.8% over the last month and are 7.0% higher than they were 12 months ago.

Overall, Australian capital dwelling prices increased 0.6% over the last month and are now 2.7% higher than they were 12 months ago.

The number of properties taken to auction fell to 1,786 last week.

The preliminary auction clearance rate has held above the 70% mark for the past four weeks and across eight of the past ten weeks.

This current property cycle has been driven by an undersupply of good properties relative to current demand pushing up property values and rents there was nothing to suggest there will be any significant change in the near future.

Unfortunately, the undersupply properties is going to persist for some time with all commentators agreeing that there is no way we're going to hit the housing construction targets required to meet our demand.

The Reserve Bank of Australia's decision to keep interest rates unchanged despite easing inflation is unlikely to impact the property market.

In fact, auction clearance rates were very strong this weekend, showing the depth of buyer demand.

The market is expecting further interest rate falls, considering Australia’s economic growth has slowed, with consumer spending, business investment and building approvals all weakening.

The two interest rate drops we enjoy in February and May have already lifted confidence in the housing market, with auction clearance rates strengthening and national dwelling values rising month after month.

Even in a quieter winter market and despite much of Australia being on school holidays, demand for property has remained consistent, with auction clearance rates regularly above 70%.

With interest rates forecast to fall another two or three times by early 2026 and housing supply still critically low, there is little doubt that house prices will continue to rise.

On the auction front this week...there were 1,458 auctions held across the combined capitals last week.

The preliminary auction clearance rate has slipped a little since reaching a year-to-date high three weeks ago (74.5%).

See Cotality's full auction report below.

This week, Cotality also reports that:

  • Sydney property prices increased 0.2%  over the last week,  increased 0.6% over the last month and are 1.3% higher than they were 12 months ago.
  • Melbourne property prices increased 0.1% over the last week,  increased 0.4% over the last month, and are -0.2% lower compared to 12 months ago.
  • Brisbane property prices increased 0.1% over the last week, increased 0.8% over the last month and are 7.0% higher than they were 12 months ago.

Overall, Australian capital dwelling prices increased 0.6% over the last month and are now 2.7% higher than they were 12 months ago.

Clearly, the property cycle is moving on but our markets are very fragmented.

Weekly Change 14 July

Monthly Change 14 July

12 Month Change 14 July

Source: Cotality July 14th 2025

Of course, these are "overall" figures - there is not one Sydney or Melbourne or Brisbane property market.

And various segments of each market are performing differently.

At the beginning of this cycle the upper quartile of the market lead the upswing but last year the lower quartile across every capital city recorded a stronger outcome for housing values relative to its upper quartile counterpart.

The following chart shows how various segments of each capital city market are performing differently with median-priced properties performing well.

Quarterly Change In Stratified Hedonic Dwellings

28 Day Rolling Hvi

To help keep you up-to-date with all that's happening in property, here is my updated weekly analysis of data and charts as of 14th July  2025 provided by SQM Research,  Cotality, and realestate.com.au.

Current property asking prices

Property asking prices are a useful leading indicator for housing markets - giving a good indication of what's ahead.

Here is the latest data available:

Sydney

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 2,032,366 -25.371 -0.8% 4.6%
All Units 851,355 4.945 0.7% 4.2%
Combined 1,551,575 -13.324 -0.5% 4.3%

Source: SQM Research

Melbourne

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,305,221 1.979 0.6% 4.0%
All Units 627,564 -2.164 -0.9% 3.8%
Combined 1,091,121 0.546 0.3% 3.8

Source: SQM Research

Brisbane

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,253,122 0.463 0.9% 12.1%
All Units 733,206 2.094 1.1% 15.8%
Combined 1,122,396 0.802 1.0% 12.5%

Source: SQM Research

Perth

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,151,092 -0.678 0.9% 12.5%
All Units 641,635 5.825 0.6% 20.7%
Combined 1,017,623 0.996 0.9% 13.7%

Source: SQM Research

Adelaide

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,063,151 -0.351 1.0% 16.2%
All Units 559,302 1.698 0.7% 20.6%
Combined 972,522 -0.003 1.0% 16.6%

Source: SQM Research

Canberra

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,210,962 12.663 3.6% -0.5%
All Units 597,780 -0.156 -0.2% 0.4%
Combined 982,047 7.451 2.6% -0.8%

Source: SQM Research

Darwin

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 777,336 11.059 0.1% 17.8%
All Units 413,945 2.305 1.4% 10.5%
Combined 634,520 7.583 0.4% 15.8%

Source: SQM Research

Hobart

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 843,954 -0.318 0.1% 6.8%
All Units 497,775 1.525 0.2% -0.2%
Combined 791,219 -0.066 0.1% 6.0%

Source: SQM Research

National

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,007,227 2.778 0.8% 9.4%
All Units 584,584 1.772 0.4% 5.6%
Combined 915,786 2.497 0.7% 8.7%

Source: SQM Research

Cap City Average

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,472,562 -16.300 -0.7% 6.0%
All Units 736,014 4.313 0.8% 6.8%
Combined 1,253,128 -10.326 -0.4% 5.9%

Source: SQM Research

The value of property asking prices as a leading indicator for housing markets is quite significant.

In fact it's more valuable than median prices which can be quite misleading.

Let's delve into why this is the case and how it impacts the real estate market.

  1. Early Market Sentiment Indicator: Asking prices often reflect the current sentiment of sellers in the real estate market.

    If sellers are confident, they might set higher asking prices, anticipating strong demand.
    Conversely, if sellers are uncertain or perceive a market downturn, they might lower their asking prices to attract buyers.
    This makes asking prices a real-time indicator of market sentiment, often preceding changes in actual sales prices.
  2. Predictive of Future Price Trends: Trends in asking prices can be predictive of where the actual property prices are headed.
    For example, a consistent rise in asking prices over a period can signal an upcoming rise in transaction prices.
  3. Impact of Economic Factors: Economic factors such as interest rates, employment rates, and broader economic health influence asking prices.
    For instance, changes in the Reserve Bank of Australia's policies or shifts in the job market can quickly reflect in the asking prices, providing insights into how these factors are influencing the housing market.
  4. Regional Variations: In a diverse market like Australia's, asking prices can also provide insights into regional disparities.
    For instance, the property markets in Melbourne and Sydney might behave differently from those in Brisbane or Perth. Asking prices can give early indications of these regional trends.
  5. Influence of Supply and Demand: Asking prices are also a response to the balance of supply and demand in the market.
    In areas with limited supply and high demand, asking prices tend to be higher and vice versa.

However, it's important to note that while asking prices are a valuable indicator, they should not be used in isolation.

Other factors like actual sales prices, time on the market, auction clearance rates, and economic conditions also play crucial roles in understanding the property market dynamics.

READ MORE: The latest median property prices in Australia’s major cities

Last weekend's auction report

Preliminary clearance rate holds above 70% for fifth week running

There were 1,458 auctions held across the combined capitals last week, down from 1,794 the week prior and 1,512 this time last year.

Last week was the lowest volume of weekly auctions since the King’s Birthday long weekend.

The preliminary auction clearance rate has slipped a little since reaching a year-to-date high three weeks ago (74.5%), coming in at 72.2% last week.

However, this was the fifth week running where the preliminary clearance rate has held above 70% across the combined capitals.

Capital City Auction Statistics 14 July

Melbourne was the most active auction market last week, with 630 homes going under the hammer, down from 767 a
week ago and roughly in-line with the volume of auctions held a year ago (628).

The preliminary clearance rate fell to 70.5% last week, the lowest in 12 weeks, but the eleventh straight week where the preliminary clearance rate has held above the 70% mark.

There were 578 homes taken to auction in Sydney last week, down from 685 the week prior but up relative to a year ago when 560 homes were auctioned.

The preliminary clearance rate strengthened last week, reaching 76.2%, the second highest clearance rate so far this year, behind the week ending 16th February (76.6%).

Across the smaller capitals, Brisbane hosted 103 auctions last week, the lowest volume in 12 weeks.

Only 61.3% of auctions have reported a successful result so far, the lowest preliminary clearance rate in six weeks.

In Adelaide, 75 properties went to auction last week, with 75.6% returning a positive outcome based on results collected to-date.

The preliminary clearance rate was up from 65.7% over the previous week and is holding above the year-to-date average of 67.3%.

Canberra hosted 61 auctions last week, the lowest volume in six weeks. 68.0% have reported a successful result so far, down from 73.1% the week prior (revised to 69.6% on final numbers).

There were just nine auctions in Perth last week, with six of the seven results captured so far reporting a successful result.

Two auctions were held in Tasmania last week, with the results yet to be reported.

We should see a subtle rise in auction volume this week, with around 1,520 capital city homes currently scheduled to go under the hammer, rising to around 1,690 next week.

Our rental markets

According to Cotality, rental growth has continued to ease across most of Gross rental yields, dwellings Australia, with the national rental index rising 1.3% through the June quarter, the lowest Q2 change since 2020 (-1.7%).

Across the capital cities, the ACT recorded the smallest quarterly rise across the capital cities, with rents up 0.3% over the quarter, followed by Melbourne and Adelaide with a three-month increase of 0.7%.

Darwin stood out with the strongest quarterly lift in rents, up 2.9%, followed by Brisbane with a 2.0% increase and Sydney up 1.5%.

Annual Change In Rents Houses

Annual Change In Rents Units

Gross Rental Yields Dwellings

 

Sydney

Property Type Rent ($) Weekly change Monthly change  12 Months change
All Houses $1,071.28 -2.28 -0.3% 3.0%
All Units $702.71 0.29 -0.4% 0.6%
Combined $852.19 -0.75 -0.3% 1.8%

Source: SQM Research

Melbourne

Property Type Rent ($) Weekly change Monthly change  12 Months change
All Houses $764.74 0.26 0.6% 2.7%
All Units $575.48 -0.48 0.5% 2.7%
Combined $654.27 -0.17 0.6% 2.8%

Source: SQM Research

Brisbane

Property Type Rent ($) Weekly change Monthly change 12 Months change
All Houses $761.22 -0.22 1.0% 3.4%
All Units $600.83 -0.83 0.3% 4.4%
Combined $689.01 -0.49 0.7% 3.8%

Source: SQM Research

Perth

Property Type Rent ($) Weekly change Monthly change 12 Months  change
All Houses $830.56 5.44 -0.1% 5.7%
All Units $656.99 -1.99 0.3% 5.4%
Combined $758.63 2.36 0.1% 5.7%

Source: SQM Research

Adelaide

Property Type Rent $) Weekly change Monthly change 12 Months change
All Houses $671.80 -0.80 2.3% 3.2%
All Units $527.52 1.48 0.4% 7.3%
Combined $622.82 -0.03 1.7% 4.5%

Source: SQM Research

Canberra

Property Type Rent ($) Weekly change Monthly change 12 Months change
All Houses $782.49 -4.49 -0.3% 2.5%
All Units $588.17 5.83 0.6% 5.2%
Combined $676.29 1.15 0.1% 3.6%

Source: SQM Research

Darwin

Property Type Rent ($) Weekly change Monthly change 12 Months change
All Houses $771.46 21.54 2.8% 12.4%
All Units $548.99 -2.99 -0.7% 15.2%
Combined $639.77 7.02 1.0% 13.9%

Source: SQM Research

Hobart

Property Type Rent 9$) Weekly change Monthly change 12 Months change
All Houses $571.45 -2.45 -1.2% 6.6%
All Units $499.43 0.57 0.7% 6.2%
Combined $542.69 -1.24 -0.5% 6.5%

Source: SQM Research

National

Property Type Rent ($) Weekly change Monthly change 12 Months change
All Houses $715.00 -9.00 -1.0% 2.9%
All Units $565.00 3.00 0.0% 3.9%
Combined $645.44 -3.44 -0.6% 3.3%

Source: SQM Research

Cap City Average

Property Type Rent ($) Weekly change Monthly change 12 Months change
All Houses $863.00 0.00 0.3% 3.7%
All Units $640.00 0.00 -0.2% 2.6%
Combined $744.40 0.00 0.1% 3.2%

Source: SQM Research

Sellers of good properties are on strike

After rebounding somewhat in May, the flow of new listings eased through June, with just 33,159 new properties advertised for sale nationally over the four weeks to June 29th.

Down -11.7% compared to this time last year and -9.2% below the fiveyear average, the current flow of freshly listed stock is the lowest observed for this time of year since 2020.

The shortfall in new listings, coupled with a strong absorption rate has seen total listings drift lower.

At the national level, Cotality observed 127,020 for sale listings over the four weeks to June 29th, down -11.8% from the recent March high (144,025), and -16.7% below this time of year’s five-year historic average.

Number Of New Listings National Dwellings

Source: Cotality,  July 2025

Vendor metrics


As the following chart shows, it's taking longer to sell a home.

Median Days On Market 3 Months To June 2025

Nationally, properties are taking longer to sell with the median time on market rising to 35 days in the June quarter, up from 34 days over the March quarter and 29 days in Q2 2024.

Over the year, Brisbane (25 days) recorded the largest increase in selling times across the capitals, up 9 days, followed by Hobart (49 days), which saw an 8-day increase.

Darwin (43 days) and Canberra (53 days) were the only capitals to see the median time on market decline over the year, with selling times falling by 12 and 3 days, respectively.

Median Vendor Discount 3 Months To June 2025

ALSO READ: Latest property price forecasts revealed. What’s ahead in our housing markets in the next year or two?

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About Michael Yardney Michael is the founder of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media.
88 comments

On the weekly chart it's good to see Perth and Adelaide still strong.

0 replies

Dominating the current narrative about Property prices is the relationship to wages growth. However an analysis of property price growth in relation to household borrowing capacity is very insightful. When you do that you can see there is still an en ...Read full version

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Blaming foreign entity is the easiest scapegoat tactic. Aussie govt loves using it over and over again. In the end, new rules are always introduced and hurt the locals. It's vicious cycle!

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